The Australian merino wool-selling season ended on a high
note last week, with a 95% clearance of the New Zealand wool
offered and prices lifting across the board.
New Zealand Merino commercial manager Keith Ovens said the
average price across all 3200 bales was $10.70 a kg, the
highest for the season and well above the $9 to $9.30 range
it has occupied for most of the season.
Wool 15 to 17 microns rose the most last week, by 5% to 10%,
helped by new orders and a favourable exchange rate, although
all categories enjoyed a lift in price.
On some lots, there were four to five bidders.
"Everything lined up," Mr Ovens said.
Necks, backs and pieces continued to sell well, as processors
found ways to use them.
Mr Ovens said Queensland Cotton bought 660 bales or 22% of
the offering while Europe-based New England Wool had its
largest purchase for the season, buying more than 300 bales.
There was virtually no wool left unsold from this season,
which Mr Ovens said boded well for the start of the new
season in August.
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